What is HEX crypto? I talked to @NrdGrl007 about HEX, its' tokenomics, fundamental analysis, Upcoming Pulsechain ("Ethereum Killer") and cryptocurrency in general.

Interactive Transcript

spk_0 I think we got all the bugs worked out.

spk_0 Thank you.

spk_0 No worries.

spk_0 To talk to us about Hex, something we're all interested in.

spk_0 You can't.

spk_0 I can't have none.

spk_0 No problem.

spk_0 Thanks for coming on.

spk_0 The price chart, I know you say you don't look at the price

spk_0 chart, but it is something.

spk_0 It is really something remarkable.

spk_0 It is.

spk_0 Yeah.

spk_0 What I really mean is I don't pay attention to the day-to-day fluctuation so much.

spk_0 But that was true with me of crypto before Hex.

spk_0 Okay.

spk_0 What was your strategy in crypto before you got into Hex?

spk_0 Hottle.

spk_0 I always talk about it too.

spk_0 Mm-hmm.

spk_0 By stuff that you think will perform well in the long term and just hold on.

spk_0 I was never really a trader.

spk_0 I guess if you know made some trades or particularly like swing,

spk_0 because I've made some like swing trades, but never really like that's where I

spk_0 rely, I never relied on trading for income.

spk_0 Right.

spk_0 I sometimes took profits from one thing that performed very well and bought

spk_0 something else that I thought would perform well or better, but never really

spk_0 traded to trade for income.

spk_0 Yeah.

spk_0 I ruled a thumb.

spk_0 I don't sell crypto.

spk_0 My first couple of years in crypto, I looked at my order books and I just sold

spk_0 bought and sold and bought and sold and if I had never sold, I'd have so much more money

spk_0 today because I look at my order books from just two years ago selling Ethereum for a

spk_0 couple hundred bucks a piece, you know.

spk_0 So hot owing works.

spk_0 It really does.

spk_0 It's so much better than leverage trading, which is another thing I like about Hex.

spk_0 You're not leveraging.

spk_0 Yeah.

spk_0 So I mean, I know that I know that, you know, there are a lot of people involved in Hex,

spk_0 especially, you know, Richard wants people to be able to trade Hex on margin or on, you

spk_0 know, with leverage.

spk_0 So that's definitely something that's going to happen at some point.

spk_0 It's just that that's not like encouraged behavior.

spk_0 Encourage behavior in Hex is to hold for longer because because it's because you're incentivized

spk_0 to stake because if you stake, you get rewarded with more Hex.

spk_0 We're like, I mean, hollering has been great.

spk_0 You know, if you just hoddle, you'll make money in the long term, but it would be so much

spk_0 better if, you know, you were rewarded like, so for all of the years that I held Bitcoin

spk_0 or Hex and the quantity of my tokens didn't go up.

spk_0 It would have been so cool if, you know, every so often I was rewarded with more of them for having hoddle.

spk_0 And I wasn't.

spk_0 Every crypto I hold, I like to stake it because it doesn't make any sense.

spk_0 They just let it sit.

spk_0 If you can make rewards on it and you can contribute to the ecosystem, you might as well.

spk_0 You earn reward for it.

spk_0 I do it with Ada.

spk_0 Ada is one of my top holdings and I don't let it just sit there.

spk_0 I stake it and every single month I get a pretty good chunk of Ada in interest.

spk_0

spk_0 Okay.

spk_0 So someone, sorry, I'm assuming someone in the chat is saying that the YouTube feed got cut.

spk_0 So do you want to check that?

spk_0 The YouTube feed got cut.

spk_0 Let me check it.

spk_0 Hi, Ron.

spk_0 It's working on YouTube.

spk_0 And Joe.

spk_0 And everyone else.

spk_0 It's working on YouTube.

spk_0 Okay, great.

spk_0 Yep.

spk_0 Cool.

spk_0 So to people who never heard of Hex, exactly what?

spk_0 What is it?

spk_0 Okay.

spk_0 So the quickest way for me to explain Hex is just to say that it is a CD or a time deposit.

spk_0 It's a high yield CD or time deposit that's on the blockchain.

spk_0 So it is like, you know, like any other cryptocurrency that you can just hold and, you know, sell with price appreciation or depreciation.

spk_0 Or you have the option of staking it and time locking the asset for a certain amount of time.

spk_0 And you can set the time any, you know, it's up to you one day to 5,555 days.

spk_0 And the more that you stake and the longer that you stake for the higher your rewards are going to be.

spk_0 Yeah, I was looking at some of the graphs.

spk_0 And it's quite.

spk_0 I mean, it's really simply just the monetization of time.

spk_0 Yeah.

spk_0 And there's a lot of graphs here.

spk_0 Okay, I had it.

spk_0 The text graphs.com.

spk_0 I'm going to share my screen here.

spk_0 Get your input on on these metrics.

spk_0 Okay.

spk_0 So.

spk_0 Okay, let's go to.

spk_0 General just general graphs here.

spk_0 It's a good website to look at some hex graphs.

spk_0 Now, let's see.

spk_0 Hex during the recent crypto sell off.

spk_0 This is what I mentioned in the beginning.

spk_0 Yeah.

spk_0 The pink is hex and the.

spk_0 Gray is crypto market cap.

spk_0 So as crypto went down.

spk_0 Hex was going up.

spk_0

spk_0 yeah, because because I guess hex is not tied to Bitcoin at all.

spk_0 Am I correct?

spk_0 So I think, you know,

spk_0 that's what a lot of people say.

spk_0 And some of the reason for that is that hex is liquidity isn't like like hex is liquidity isn't tied isn't correlated to Bitcoin as much.

spk_0 But it's not really even that because typically the reason that an asset, you know,

spk_0 that the rest of the crypto market decreases as crypto or as Bitcoin decreases or increases is maybe partly because their liquidity is tied to Bitcoin.

spk_0 But it's also because Bitcoin represents an index of people's belief in the lawn, you know, in the, you know, in Bitcoin.

spk_0 So if people are nervous about Bitcoin, people get nervous about crypto currencies.

spk_0 So hex is different because people believe it's different.

spk_0 That's really what's going on.

spk_0 Okay.

spk_0 Well, hex is backed by CD.

spk_0 Certificates a deposit.

spk_0 So no, I mean, like it's not backed by bank CDs.

spk_0 It is its own CD.

spk_0 Okay.

spk_0 So it's a, it's a, it's basically a CD on the blockchain.

spk_0 So it is basically a regular cryptocurrency where the more people buy it, the higher the price goes.

spk_0 Sure.

spk_0 Yeah.

spk_0 Of course, the world.

spk_0 It encourages people to lock tokens up for even more of a reward, which makes the price go higher as well.

spk_0 Right.

spk_0 And then because the price of T shares can only ever increase in terms of Hex.

spk_0 So I mean, like if hex were to lose 90% of its value, then the price of T shares in dollars may go down, but it is impossible for the price of T shares to decrease in terms of number of Hex.

spk_0 So T share, the price of T shares in Hex only goes up.

spk_0 So Hex is really correlated to the price of T shares.

spk_0 Yeah.

spk_0 T shares, I think, is where a lot of people have a problem understanding.

spk_0 It basically means time share.

spk_0 Correct.

spk_0 It means trillion shares.

spk_0 So every one T share equals one trillion shares.

spk_0 Okay.

spk_0 And share here it says shares become more valuable and scarce scarce over time.

spk_0 Over time.

spk_0 And this is because.

spk_0 Because when stakes end, when you end your stake, you have to like your T shares, the value of your T shares gets dispersed and then goes out to other Stakers.

spk_0 So that's kind of what Hex's price, where Hex's price comes from.

spk_0 So if you end a stake, it was a really large stake and it was really long and you had, you know, hundreds of T shares theoretically, right?

spk_0 Then your T shares, the value of the T share gets distributed to the rest of the Stakers relative to their T share holdings.

spk_0 So if I put, if I buy a trillion T shares or if I stay a trillion years, so a trillion trillion shares.

spk_0 Right. Okay.

spk_0 So if I buy, if I stake enough Hex for one T share, and you stake enough Hex for two T shares, at the end of both of our terms, I'll get a half a T share because of your investment.

spk_0 No, so T shares don't get distributed.

spk_0 All right. Let's say that, let's say that, let's say that someone's got a stake.

spk_0 Let's say I have a stake that's ending and I have 100 T shares and I click end stake.

spk_0 And so I, you know, I, I, I, I met my Hex and then the value of my T shares gets distributed to the remaining Stakers relative to their number of T shares.

spk_0 So if I still have two T shares, staked and you have one T share staked and just for argument's sake, and to make this simple, we're the only people state, right?

spk_0 Like, let's just pretend this is very early days.

spk_0 Then you, then half of the value of the T shares goes to, so I have two and you have one.

spk_0 So the value of the T shares would be split in three and I would get two thirds of it and you would get one third of it.

spk_0 And the value of the T shares would go into the value of the T shares would would be distributed into Hex, but the number of Hex that you received.

spk_0 From the T share from the end of the T shares would be relative to the number of T shares that you hold.

spk_0 So you stake your Hex and Hex turns it into time shares that earn interest over time.

spk_0 Yeah, so when you're converted back into Hex.

spk_0 That is distributed to the Stakers.

spk_0 And in the meantime, the price of Hex goes up and the price of the T shares go up to more people participating in stake.

spk_0 Yes.

spk_0 Okay.

spk_0 I've been watching videos for the past couple of days on Hex.

spk_0 Some people are trying to tear it up.

spk_0 A lot of people are raving about it.

spk_0 You can't argue with the fact that it has done well.

spk_0 I think a lot of people are just waiting to see what happens within the next year with Hex.

spk_0 For sure.

spk_0 I mean, I think that a lot of people have been waiting a year ago.

spk_0 People were saying, I'm going to wait and see what happens a year from now.

spk_0 And you know, I'm like anything is possible, right?

spk_0 So I haven't ruled out the possibility that things don't work out because you never know, right?

spk_0 But I mean, I'm pretty convinced at this point that the people who are going to say, oh, I'm just going to wait another year and see what happens or going to wish that they had a, that they had acted sooner in the very much the same way that the people who said I'm going to wait and see what happens with Bitcoin wish that they had waited.

spk_0 I'm certainly getting some.

spk_0 I don't usually use Binance, BNB, pancakes.

spk_0 Is in Ethereum token?

spk_0 Okay, I can use my Metamask.

spk_0

spk_0 So I watched your RG interview early this morning while I was working.

spk_0 I was listening to it.

spk_0 And I know that you were asking if there was a way that you could buy Hex without interacting on Ethereum because you don't like to use the Ethereum blockchain.

spk_0 Right.

spk_0 So you actually can and RG was like, you used to be able to buy it on Polygon, but you can't anymore.

spk_0 That's actually not true.

spk_0 You can buy Hex on QuickSwap.

spk_0 Just that a lot of people don't like that because you give up your admin keys when you operate on when you operate on on Polygon.

spk_0 So you can though, but you can't stake it when you're on Polygon.

spk_0 So if you were to transfer funds from BSC over to the Polygon network, you could use QuickSwap by Hex and then move it back over to Ethereum to stake.

spk_0 Okay, I'd still have to be.

spk_0 I'd rather than I would just buy it on Ethereum to begin with if I have to move it back over.

spk_0 Joe here's the thing.

spk_0 So someone in the cons just saying it isn't really Hex. It's Polygon Hex.

spk_0 Yeah.

spk_0 Maybe so, but if I move it from Polygon to Ethereum, then it becomes real Hex.

spk_0 Yeah.

spk_0 But you got to, you know, you end up paying a fee anyway.

spk_0 Yeah, you do.

spk_0 You do end up paying a fee anyway.

spk_0 And Ethereum fees are like reasonable right now.

spk_0 So it's not really reasonable.

spk_0

spk_0 Yeah.

spk_0 I mean, no, I'm not saying that like I think that, you know, it's the best idea to buy Hex on Polygon.

spk_0 Just like, I am often paid in funds that are on Polygon.

spk_0 So it's less expensive for me to just convert them to Hex right there and then transfer them as Hex.

spk_0 I'm absolutely going to stake some Hex.

spk_0 Just to see what happens.

spk_0 A small amount could, I mean, if it does, if it continues to do what it says,

spk_0 it's going to do and what has already done.

spk_0 A hundred bucks staked might be worth quite a bit if I lock it up for, I don't know, a year.

spk_0 Yeah, it could.

spk_0 It could.

spk_0 I mean, you know, I think that the, so we, I mean, we're definitely not in the end of, you know, Hex, you haven't missed the Hex train for anyone who's watching.

spk_0 But.

spk_0 Well, the market gap is.

spk_0 The high price goes and the longer it goes on, the slower the price appreciation, you know, will be.

spk_0 So eventually we will have like a slowing down period where it's not appreciating it a thousand percent, you know, a thousand X a year anymore.

spk_0 So that we may not be there yet, but like, you know, a year ago, a hundred dollars is now 10,000.

spk_0 Yeah, yeah, it definitely had a big, big.

spk_0 I don't know.

spk_0 13 bill.

spk_0 This just changed from nine to 13 billion.

spk_0 So coin market cap, I think that you talked about this pretty pretty briefly with, with RG three, but coin market cap actually doesn't report the correct market cap for Hex.

spk_0 So if you don't mind, would you pull up nomics.com instead?

spk_0 Yeah, sure.

spk_0 Yeah, I'd like the accurate information.

spk_0 Okay, now scroll down and you'll find Hex at number four or number five, depending on how things are going today.

spk_0 Four.

spk_0 Four, yep, we're above BNB.

spk_0 So market cap is a vanity metric, ignore it.

spk_0 Yeah, yeah, yeah, but people are still really interested in it guys.

spk_0 So, so Hex has the 44 billion market cap.

spk_0 Yep, that's right.

spk_0 So coin market cap doesn't report the, or doesn't include the coins that are held by the origin address in their calculation of the market cap.

spk_0 And that is why Hex is market cap is reported as something like 14 billion instead of 44 billion.

spk_0 This, I had no idea it was so big.

spk_0 Yep.

spk_0 Few.

spk_0 How big can Hex get?

spk_0 There's no limit to how large it can get.

spk_0 I mean, if you look actually at the market cap of time deposits or of CDs,

spk_0 and then imagine that Hex could take some or potentially all of that market share over a long enough time.

spk_0 And I'm actually not sure, I've, I know that I have looked at that before and I've done some of that math, but I don't have those numbers.

spk_0 I don't remember those numbers off of the top of my head.

spk_0 So yeah, you could, you know, take a look at what the market cap is on CDs, like traditional CDs.

spk_0 And then maybe that could give you an idea of what the market cap of Hex could be.

spk_0 Well, it says here 44 billion.

spk_0 And that makes it the fourth largest crypto.

spk_0 Yep.

spk_0 Bigger than Cardano and Binance coin, Dopecoin, XRP, bigger than USDC.

spk_0 Yep.

spk_0 So, someone just asked, is there a cutoff to stay kex?

spk_0 I'm not sure what you mean.

spk_0 Do you mean like, is there a date that you have to stake your Hex by?

spk_0 No, you can stake your Hex at any time and you can stake it for a minimum of one day and a maximum of 5,555 days.

spk_0 But if that's not your question, please clarify.

spk_0 Is there a cutoff to stay kex?

spk_0 I was extremely disappointed because I held a lot of Bitcoin in December 2020.

spk_0 And that period ended, I can't collect my Hex.

spk_0 Yeah, yeah, it was really unfortunate that so few people were covering it and like the people who have the largest audiences were telling people,

spk_0 or if they were talking about it, they were saying, don't free claim.

spk_0 Why would you ever not free claim?

spk_0 That just doesn't make any sense.

spk_0 Yeah, I would have loved to get that if I had known about it.

spk_0 But as of a month ago, nobody's really heard of Hex.

spk_0 And it's number four in market cap.

spk_0 That's insane.

spk_0 Yeah, one of the things you've been doing for the past year.

spk_0 And it's not only because everything else came down while Hex came up.

spk_0 So what was it before the crash?

spk_0 Probably way down in the list.

spk_0 Sorry, what do you mean before what crash?

spk_0 What position was Hex at on?

spk_0 Hex has been a top 10 cryptocurrency for quite some time.

spk_0 It was a number.

spk_0 It was in the top five before big payday, which was in November of 2020.

spk_0 So Ben says just a correction.

spk_0 CMC does report the correct market cap, but they manually decide to list it on page three.

spk_0 That's actually not true.

spk_0 CMC doesn't include the coins held by the origin address in the market cap.

spk_0 So they say that the market cap of Hex is about 14 billion.

spk_0 Even so, it should be a top.

spk_0 It should be page one, but they do manually hold it on page three.

spk_0 That still doesn't mean that they report the correct market cap because they don't,

spk_0 they do include Satoshi's million or 1.1 million coins in the market cap.

spk_0 So if they're going to include those and they're going to include the Ethereum foundations, however many coins they hold, why not include the coins that are actually liquid that are circulating supply, even though they aren't currently moving.

spk_0 I've got here a nomics.com snapshot from January 2021.

spk_0 And Hex is number seven at 13 billion.

spk_0 Yep, so look at November of 2020.

spk_0 Okay.

spk_0 I know Joe.

spk_0 I said that.

spk_0 It does not report the correct market cap for Hex.

spk_0 Even with the incorrect market cap that it reports, it does hold it on page three because even with the incorrect number, it should still be a pitch one.

spk_0 November of 2020.

spk_0 It was number five.

spk_0 Yep. And then it fell down because we had the big payday event, which increased to the supply.

spk_0 And so yeah, it fell down.

spk_0 You can look at what it was in December.

spk_0 And then you can look again that by, I believe by January, it was a top 10 or top 15 again.

spk_0 And it's pretty much stayed in the top 10 or 15 since then.

spk_0 When was Hex released?

spk_0 Hex was released in December 2019.

spk_0 Is that right guys December 6, 2019 something like that?

spk_0 December 2nd, 2019.

spk_0 Thank you, Joe.

spk_0 Oh, now someone says December 3rd.

spk_0 All right, guys, let's not nitpick.

spk_0 I'm going to, I'm just going to go to, they said December 2019.

spk_0 So let's just go to after it had some time to grow.

spk_0 Let's go to September 2020 or June 2020 after it had about six months to grow.

spk_0 Let's see where it ranked that.

spk_0 It's impressive.

spk_0 It's very impressive.

spk_0 The market cap that it has gotten to.

spk_0 Yeah, it really is.

spk_0 That's not the right thing.

spk_0 Okay, so someone says, CMC does show the fully diluted market cap correctly.

spk_0 But they don't report that as the actual market cap of circulating supply.

spk_0 It's a coin market cap says 48 billion fully diluted.

spk_0 Yeah, but they don't report that as the market cap of the circulating supply.

spk_0 Because they, because they exclude the tokens held by the origin address.

spk_0 And the origin address is the origin address is so no one knows who controls it.

spk_0 You know, it's, it's speculation that Richard controls 100% of the coins in the OA.

spk_0 We don't know if that's true or not.

spk_0 He says he doesn't, but you know, we don't know.

spk_0 Hex became number 22 in Mark cap.

spk_0 And July July 22, 2020, about about not even a year after it was born.

spk_0 That's quite impressive.

spk_0 So Richard says that it was designed to eat market cap.

spk_0 And it's been doing exactly that.

spk_0 Designed to eat market cap.

spk_0 Can you, can you rephrase that?

spk_0 Yeah, so I would say like, yeah, so it was designed to draw market cap from everything else.

spk_0 And to, you know, climb those ranks to increase, to increase in market cap because of the built in 3.69 annual inflation.

spk_0 And because of the, you know, staking rewards and because of the way that it started with such a low, incredibly low, low price.

spk_0 That's like very enticing for people.

spk_0 Yeah, I mean, I think we're going to see guys, I know we know, okay, we know there's so like all these exicans in the chat are like market caps irrelevant.

spk_0 Don't talk about it.

spk_0 Listen, market cap may be irrelevant for you, but there are a lot of people who really care about the market cap.

spk_0 So we're going to talk about it, okay?

spk_0 Because the market cap is huge.

spk_0 So that tells, that tells the average retail investor that there's not going to be much gains in it.

spk_0 Because we look for low cap gems and to the average investor it looks like hex is a coin that already pumped and you don't chase pumps.

spk_0 But it's not like other cryptos and you know, that's why I had rob on, that's why I'm having you on.

spk_0 I'm going to have a couple more people on, I'd like to have a round table because I want to get to the bottom of hex.

spk_0 I'm buying a little bit.

spk_0 We'll see how that investment works out.

spk_0 I'll share that with the viewers, my purchase and how my purchase works out.

spk_0 I've never chased the pump before in my life.

spk_0 But this, this seems a little different.

spk_0 Yep, this pump is over.

spk_0 It's going to have to go to extremely, I mean, it's too double.

spk_0 It would have to go, look at the market cap of it.

spk_0 It would have to, let's see, the market cap is 44 billion.

spk_0 It would have to go to 88 billion just to double our money.

spk_0 Yep, and let's say that people from other cryptocurrency, you know, who are holding other cryptocurrencies are slowly losing their faith in the promises that the, you know, founders and teams behind the coins have made because those have it been delivered.

spk_0 And so they're slowly, you know, buying into hex instead.

spk_0 And hex is taking the market cap from those coins and adding it to their own.

spk_0 I heard you talk about Atari and how like the founders and the whales of Atari all like went really heavily into hex.

spk_0 You know, it was so funny.

spk_0 Someone, maybe it was a year ago, maybe it was a little less than a year ago.

spk_0 Someone like heavily involved in Atari was like, don't sleep on this.

spk_0 It's going to be amazing.

spk_0 You got to get in and I was like, you know what?

spk_0 I just don't know enough about it.

spk_0 I researched coins before I buy them.

spk_0 I'm comfortable where I am.

spk_0 I hope that you become very wealthy from it.

spk_0 You know, like I hope it does everything that you believe that it will do.

spk_0 But I'm just not that confident.

spk_0 And pretty bad that I didn't go in.

spk_0 Yeah, yeah, you should be.

spk_0 It's a very risky project.

spk_0 Very risky and a lot of a lot of red flags going on on chain.

spk_0 So there's no tokenomics that this is not a chat about Atari.

spk_0 This is a chat about hex.

spk_0 And I'm looking at it in the light that people who bought it last year.

spk_0 There are thousands of percent.

spk_0 But for me, and anyone buying right now,

spk_0 it would have to become the third largest crypto in the world just for us to get 100% profit.

spk_0 Just for a two X.

spk_0 And in the last, and how long has it taken from hex for hex?

spk_0 So it's number four right now, right?

spk_0 So it would need to become number three.

spk_0 So that means it only has to go up one place.

spk_0 And how long did it take hex to go from number five to number four?

spk_0 Well, if that's your thinking,

spk_0 and if that's how you think it's going to go,

spk_0 then you're basically saying hex is very soon going to flip Bitcoin.

spk_0 That is the general consensus of most hexagons.

spk_0 That's a more statement.

spk_0 Oh, yeah, sure.

spk_0 It is.

spk_0 That'd be very interesting.

spk_0 So I've been waiting for years for Bitcoin to get flipped because I'm tired of the market being pegged to Bitcoin.

spk_0 There's much better projects out there that suffer when Bitcoin goes down,

spk_0 which Bitcoin should go down.

spk_0 Honestly, it's antiquated.

spk_0 It's just a store of value has no utility.

spk_0 So it does have, you know, the biggest, like the greatest brand recognition.

spk_0 It does have the thing where like governments are beginning to back it and accept it as a form of payment.

spk_0 But what I think is going to be really interesting is that as we see like Bitcoin start to be legally represented

spk_0 as a form of currency, people are going to start to see that it's not really functional as a currency.

spk_0 I suppose that, you know, they're going to do things with Lightning Network.

spk_0 Right.

spk_0 But generally speaking, I've used Lightning.

spk_0 It's not easy.

spk_0 It's just the big coins, the store of value.

spk_0 And that's it.

spk_0 That's all it is.

spk_0 How is hex?

spk_0 Hex doesn't get any value from the Fiat system.

spk_0 Well, sure it does.

spk_0 I mean, as people exchange their Fiat or crypto into Hex, that value.

spk_0

spk_0 Right.

spk_0 But the C, but, but the CDs.

spk_0 There's no actual purchasing of any sort of bonds or official anything.

spk_0 Nope.

spk_0 It's all decentralized and it's all just transaction fees.

spk_0 And that's it.

spk_0 Just transaction fees.

spk_0 So the way that Hex is distributed to Stakers, you mean like the way that the interest is paid.

spk_0 So the interest comes from inflate comes from the 3.69 annual annual inflation.

spk_0 And then because not 100% of the Hex is staked, the interest paid is higher than that 3.69%.

spk_0 Because the whole of the interest goes only to those staked.

spk_0 Additionally, people who end their stakes early, when someone ends their stake early,

spk_0 the penalties are distributed to the Stakers.

spk_0 Yeah, like half of the penalties get sent to the origin address.

spk_0 And then one half of the penalties get distributed to the Stakers.

spk_0 Right now, if you need to cash out a CD early 100% of the penalties go to the bank.

spk_0 The bank.

spk_0 Yep.

spk_0 What bank?

spk_0 The bank who you purchased the CD from.

spk_0 So if you go to traditional financial...

spk_0 Yeah, yeah.

spk_0

spk_0 Yeah.

spk_0 Right, if you cash out early.

spk_0 I love the fact that In Hex, if you cash out your stake and contract early,

spk_0 that people that did not cash out early, get, get some of your reward.

spk_0 Yeah.

spk_0 Yeah, so they call that the Truth Engine, so it's basically a, a small contract with your standard or money,

spk_0 pump dynamics and incentivized staking so taking it off the open market, taking it out of

spk_0 circulation even though CoinMarketCap probably considers it in circulation. No, CoinMarketCap

spk_0 does not consider the tokens that are locked in stakes as they burn. And neither does and neither

spk_0 does Nomics. So staked coins don't exist because they haven't been minted yet. Those are not

spk_0 those are not counted in the market cap. Okay. And is there a burning policy, a scheduled burning

spk_0 policy or some sort of deflationary events? So theoretically, and we don't know exactly how this

spk_0 is going to work yet, but there is a lot of theory that the that any hex that's sacrificed for

spk_0 pulse will be burned. Staked coins are burned. Yeah. So when you stake your coins, those coins

spk_0 are burned. Like if you have minted coins and then you stake them, they are burned.

spk_0 Pulse chain. Pulse, pulse chain. Can you tell me about pulse chain? Sure. Okay. So the fees for

spk_0 Ethereum fees in general, like, you know, a few months ago when the price of Ethereum was just like

spk_0 going ballistic, were outrageous. And then the Berlin fork made it so that particularly ending

spk_0 hex stakes was just crazy expensive because there were like compounding factors on hex stakes.

spk_0 So in order to combat those fees, because there were a lot of hexakins who like didn't have a lot

spk_0 of money early on who had like created short stakes and were relying on those stakes to pay for

spk_0 expenses that they had in life. And then the fees were so outrageous that they were unable to end

spk_0 their stakes. So, you know, Richard was like, well, we got to do something about this. So he said

spk_0 he's going to fork the entire state of Ethereum and create like so that everyone gets not only a

spk_0 duplicate of their Ethereum, but a duplicate of all ERC 20s and ERC 771s that they hold on the chain.

spk_0 Okay. And so that is what pulse chain will be. So he forked Ethereum.

spk_0 State of Ethereum. Not Ethereum, Classic, not Ethereum, Max, he forked Ethereum.

spk_0 The State of Ethereum. And it's pulse chain is proof of work just like Ethereum.

spk_0 Nope. Pulse chain will be proof of stake. So there are alterations made. Actually, you can go

spk_0 in the test bet now. So they have proof of stake up and running. It's not functioning that I mean,

spk_0 like I believe that it is functioning and there's still some front end work being done. And then

spk_0 also that there's some work being done to get ready for the sacrifice phase. So pulse chain is a

spk_0 proof of stake for the Ethereum that is backwards compatible with Ethereum.

spk_0 Can you explain what you mean by backwards compatible? So any Ethereum

spk_0 DAP say Uniswap could switch to pulse chain. They could operate simultaneously on pulse chain.

spk_0 And in fact, Uniswap is planning to operate on pulse chain.

spk_0 Really? Interesting.

spk_0 So people ask me sometimes like what ERC 20s I think will have value on pulse chain.

spk_0 And I'm always like, you know, you never know. But because we know that Uniswap will be on pulse,

spk_0 like we know that Uniswap is going to exist on pulse chain, I'm betting that Uniswap

spk_0 that PUNI will have will have value. Yeah, if Uniswap takes advantage of

spk_0 of a proof of stake version of Ethereum, I mean, EIP 1559 is supposed to be launching this

spk_0 month like in 15 days. Sure, yeah, actually, that was something that came up on my most recent

spk_0 appearance on BitBoy's show around the blockchain. And there's like some, you know, contention about

spk_0 whether EIP 1559, or if that's the right combination of letters and numbers,

spk_0 is going to really function the way that they say that it will or not. And then the people

spk_0 on the show didn't really want to discuss that. But a developer reached out to me shortly after

spk_0 and said, hey, actually, you're right. There's a lot of problems with that fork that aren't being

spk_0 discussed. And I need to reach back out to him and see about having him on to explain that.

spk_0 Because he can explain much better than I can, of course. I've talked for hours on my channel

spk_0 about all the problems with Ethereum, hard forking. It's not as easy as they're making it sound.

spk_0 They're making it sound like it's just going to be a flick of a button. But anyone that's

spk_0 that's lived through a hard fork knows it's not. And especially with the largest

spk_0 ecosystem blockchain ecosystem in the world is Ethereum by far. The most transactions,

spk_0 the most uses is all on Ethereum. And it's a hard fork that is going to be trouble.

spk_0 Post chain seems interesting. If Uniswap's looking at it, that's

spk_0 extremely bullish. I know Uniswap's looking at all the platforms like Phantom and

spk_0 and other other blockchains, Luna. So there's a good future for crypto.

spk_0 But back to Hex, I think most my attitude still is, and I think most people's attitude still is,

spk_0 are you really saying Hex is going to flip Bitcoin like?

spk_0 Like, I can't predict the future. I don't know what's going to happen.

spk_0 And there are forces in power that know things that we don't have actually knowledge and things

spk_0 that we don't have access to. So I don't know. I don't know. If Hex is going to flip Bitcoin in two

spk_0 years or five years or ten years or five years. But that is. If Hex doesn't flip Bitcoin,

spk_0 then if we buy Hex now and just hold it, we're not even going to make a 10x. It has to flip Bitcoin

spk_0 just to get a 10x. So there's, I don't know, it's not really compelling.

spk_0 Okay. Well, how much does Bitcoin have to go up for you to get a 10x?

spk_0 A lot. That's why I don't hold any Bitcoin.

spk_0 I mean, the market cap is just too high on Hex for me to say that it can be a 100x or still.

spk_0 Okay. Well, I mean, so as most people in the comment in the chat have been commenting,

spk_0 the market cap really is somewhat irrelevant. And the potential for where it could go,

spk_0 like people like to look at Hex in terms of cryptocurrency, right? Like it's market cap in terms of

spk_0 what it's, you know, where it ranks for crypto. But like, look, who's got a link to where that,

spk_0 there is somewhere where you can see Hex's market cap on a much larger scale. Like you see

spk_0 Bitcoin and Ethereum on there, but you also see major companies like Disney and Ford Motors and

spk_0 and gold. Is someone have that link that they can share? Because I just, I don't remember what it is

spk_0 off of the top of my head. But so, I mean, I think that we should be looking at Hex's market cap,

spk_0 not just in terms of where it stands relative to cryptocurrency, but where it stands relative to

spk_0 other assets. And also, if there's anyone who has the ability really quick to look up,

spk_0 or trading view, okay, if there's someone who has the ability to look up where, what the market cap

spk_0 of CDs is, that's a really useful metric to consider. And also, 90% of the supply is held by the

spk_0 OA, which is why the market cap is so high. I'm not sure actually, I'm pretty sure that that is

spk_0 why the market cap can increase radically. Okay, CDs in the US and China, the total market cap is

spk_0 7.2 trillion. Yes, CDs is a huge market. But so, imagine that Hex is CD, or you know,

spk_0 becomes like, let's say that more people who like time deposits adopt Hex as a, you know,

spk_0 as a CD because they trust the banking system and they would rather be the holder of their own CD.

spk_0 So, let's say, let's look at the potential market cap of Hex, not in terms of the potential

spk_0 market cap of Bitcoin, but in terms of the market cap of CDs.

spk_0 I'm just looking at, you know, 44 billion times a thousand is an extremely high number.

spk_0 The thousand X out of Hex still.

spk_0 So, where would that put its market cap?

spk_0 I'm going to have to use a traditional calculator here. So, 44,000 million times 1000

spk_0 equals a 44 trillion dollar market cap. So, you're going to have to like 60 X Bitcoin

spk_0 just to have a, just to have a thousand X.

spk_0 And now I'm trying to scroll the comments and I can't because I'm trying to go back to what was

spk_0 the market cap of CDs in China and the US. And I, well, that's CDs. This is a, this is a,

spk_0 a, a CD. Right. It's a crypto that acts like a CD and it would have to, it would, it would have to,

spk_0 in order to buy it now to be a thousand X coin sometime in the future. If it takes 10,

spk_0 10 years or 20 years, it would have to be, it would have to be 44 trillion dollar market cap

spk_0 to 1000 X from this point. Okay.

spk_0 Can you see where I'm coming from? Where, where the retail investor is looking at this 44 billion

spk_0 dollar market cap and saying, this is just not, not this too late. We're too late.

spk_0 Okay. So, what you're saying is you're looking for something that's going to 1000 X.

spk_0 And everybody is. Okay. But so 100 X is not good enough for you?

spk_0 For it to 100 X, it would have to go to $4 trillion.

spk_0 $4.4 trillion. So it would have to 7X, 7 or 8X Bitcoin market cap just to get 100 X.

spk_0 It would have to flip Bitcoin, which would be the biggest upset in crypto history.

spk_0 Hex would be God. And that's a tall, I mean, I've been, I've been around since Bitcoin,

spk_0 white paper was released. This would be insane for crypto that just came out.

spk_0 So Ben, you're actually wrong there again. The market cap of Hex after you remove the OA addresses

spk_0 is not 200 million. It's the market cap currently reported by CoinMarketCap, which is around 14,

spk_0 14 billion. That is the market cap of Hex after you remove the OA addresses coins.

spk_0 Not 200 million.

spk_0 Unless I'm wrong, I mean, if there's, so can someone explain if I'm incorrect there,

spk_0 because I'm pretty sure that the market cap that CoinMarketCap, the market cap metric that

spk_0 CoinMarketCap reports, which is 14 million, not the fully diluted is excluding the OA as coins.

spk_0 If it were 14 million, I'd say 1000 X is in the cards.

spk_0 But $44 billion, you're going to have to 7, 8, 9X, the market cap of Bitcoin,

spk_0 just to get 100 X. For 1000 X, you're going to have to be $44 trillion in market cap.

spk_0 That would be the biggest upset in crypto history. It would be the biggest new story ever.

spk_0 So yeah, the staking point also doubles your stack. So it's not just considering the actual,

spk_0 you know, the value of your liquid tokens. It's considering the value of,

spk_0 it's considering the value of your tokens plus the tokens that you get as for staking.

spk_0 So if you actually count that, then like that can kind of help. You know, like it's not just

spk_0 that the value of the token of hex has to increase. It's that your supply has to increase.

spk_0 So here's the deal. Okay. How about this? You don't think it's going to 1000 X. You don't

spk_0 think it's going to 100 X or you think that it's extremely unlikely. Yeah, so I'm saying it is

spk_0 extremely unlikely that that hex is going to $44 X the market cap of Bitcoin. Okay. So let's talk

spk_0 about just text 100 X saying. So not 44 X saying the market cap of Bitcoin.

spk_0 So and also considering that, you know, Bitcoin's value is also likely to increase.

spk_0 So Bitcoin's market cap itself will go up. Of course. So let's say, let's do this. Let's,

spk_0 say you're not wanting to buy hex because you don't think that it will 1000 X or 100 X and you

spk_0 would rather buy a token that will. And because of hex's market cap, you think that it's unlikely.

spk_0 So let's revisit this conversation one year from today and and see if you wish that you'd buy

spk_0 hex or not. I'm buying a little bit. Okay. But let's, okay, let's say wish that you bought more or not.

spk_0 How about that? Yeah. Yeah. That happens. I mean. Okay. So today is July 2nd.

spk_0 Yeah. July 2nd 2021. So on July 2nd 2022, let's see whether you wish that you'd bought more or not.

spk_0 I think we'll find out sooner than a year. What's going to happen with hex?

spk_0 Whether it's going to, I mean, it's it's a very tall order. You're talking about 1000 X saying a

spk_0 I'm not saying that it's going to 1000 X. Bitcoin's market cap in a year. I'm saying that I think

spk_0 that a year from now, you'll wish that you had bought it instead of whatever you believe will 1000 X or 100 X.

spk_0 I was, I didn't finish my sentence. Okay. It's a very tall order to say that hex can 1000 X when

spk_0 it's at a market cap of $44 billion. I don't think any crypto above $40 billion is going to

spk_0 1000 X within the next 10 years. Okay. I believe in diminishing returns and lengthen cycles because

spk_0 that's what the data shows. So if hex is immune to all things crypto, if hex is just created by a

spk_0 genius that I mean, it would be the new world reserve currency if it flips, if it flips Bitcoin.

spk_0 I mean, it's it's a lot to ask for 1000 X from a $44 billion coin. And I see people in the chat saying

spk_0 the market cap argument is irrelevant, but it's not. And telling me that is telling anyone who

spk_0 knows anything about crypto that market cap doesn't matter, which it absolutely does. Okay. So the

spk_0 audit showed that the OA owns almost all of the supply. Yeah. No, we're not meeting the POA owns

spk_0 almost all of the supply. No one has ever denied that. I don't want to roast hex here. I like the

spk_0 the principles and the concepts. I like how it encourages you to stake it. I like how it encourages

spk_0 you to focus on your future and not today. I like how it penalizes early exits and distributes your

spk_0 rewards to people who didn't exit early. I'm a programmer. I like the smart contract.

spk_0 I think it has a lot of potential. But since it's so big now, I think the big pump is over. Just from

spk_0 just from my experience in crypto, I think the big pump is over. Congratulations to you guys for

spk_0 picking the right project. So I'm going to, when we get off the phone, I'm going to stake

spk_0 10,000 hex. The value of 10,000 hex right now is, sorry, I'm going to need to look at what the

spk_0 current price of hex is. Namix. Your point 777. Okay. So I'm going to stake 10,000 hex, which is

spk_0 currently worth about $770 today for one year. And then we'll see what that's worth one year

spk_0 from today. I'm absolutely positive. You will make quite a profit. Anyone that does because it's a

spk_0 good, it's a good crypto. I'm just, I'm just giving a little pushback on the 100x thing. How long

spk_0 do you think it's going to take to 100x if you just huddle and don't stake? You know, I think that's

spk_0 like I don't, I can't really make price predictions. I don't, and I don't like make price predictions

spk_0 for short terms because markets are irrational. And particularly when we're talking about liquid

spk_0 markets, I, yeah, it's not a project. It's really important to the hex community that people stop

spk_0 calling it a project because it projects our under development and hex is a complete and

spk_0 immutable smart contract. So it is a product, not a project. This hex nomadcladger, yeah.

spk_0 But is it still in development or? No, it is not still in development. It is not complete

spk_0 and immutable smart contract. It is not in development. No governance.

spk_0 There is no governance. What governance? It's all done. It's all programmed in.

spk_0 Okay.

spk_0 All right.

spk_0 It was nice talking to you.

spk_0 I'm interested in pulse chain. I'm going to look up uniswap in their plans to get in the

spk_0 pulse chain because that's pretty cool. Yeah. So there's, you know, there's some speculation that

spk_0 the project or the products that we'll do best on pulse chain are only those that are complete,

spk_0 complete, complete with no admin keys and immutable and that there are very, very few and potentially

spk_0 hex maybe the only one. So there's like some speculation that that is the only token that will

spk_0 perform well on pulse chain. And I'm not sure, I'm not sure about that. It's something that I'm

spk_0 going to be looking into more. I'm full, like, hex investigation mode. I'm going to be having

spk_0 more people on. I'm going to be talking to they would like for you to come join them in telegram

spk_0 in the voice chat. I could do that, but I like face to face. I'd rather have a panel of maybe

spk_0 five people on a video chat that the world can watch instead of keeping it in a private telegram.

spk_0 It's not private. Well, telegram is not private. Anyone can join the group. But why don't you go

spk_0 and join you? I don't know what your availability is like today. But my availability is all the time.

spk_0 Just send me a Twitter at at crypto underscore lodge and and we'll put a panel together.

spk_0 So I'm saying that you're best bet of getting people to come on your panel. I'm on the telegram.

spk_0 Okay, is to go into the telegram and go join the voice chat and just go ask some people if they

spk_0 wanted if they wanted to do a panel. Yeah, I have. I have. I've got quite a few people lined up.

spk_0 I got Rob through telegram. I got, uh, forget his name and Rob hooked me up with you. I got a

spk_0 couple more lined up. But I want to talk to people outside of the hex community too that I know

spk_0 who are very good at analyzing cryptos and I want to get I don't want just a box of people all

spk_0 from the hex community that you know that would just be a show video. I want people with you know,

spk_0 I like to I like to play devil's advocate. I like for people to get to the bottom of things.

spk_0 This half is saying hey, market caps really high. You really think it's going to survive?

spk_0 Is it too late? Are we just chasing a pump and then have the hex side saying no, it's going to flip Bitcoin

spk_0 or something. I mean, what, uh, whatever. I like I like the hex community. Hexakins are great.

spk_0 They've been good to me. Very accommodating. They love to spread the message.

spk_0 There's no denying that the chart looks great. So you guys have a lot of attention on you now.

spk_0 I wish you would have extended the I wish hex would have extended the Bitcoin for hex offer a

spk_0 little bit longer than what a year. It was it was a year. There was a year. Nobody knew what hex was

spk_0 back then. Everyone had the opportunity to learn. It was, you know, but that's like me starting a coin

spk_0 right now and saying any Bitcoin holder can have it, but nobody knows about my coin.

spk_0 Okay, so it's the hex community's responsibility that you didn't learn about the air drop sooner.

spk_0 I didn't say the hex community I did the developer. I wish hex not hexakins.

spk_0 I mean, I believe that Richard made every attempt to get the word out and.

spk_0 I'm sorry, did. I'm sorry. But I mean, and that was a great thing. But, uh,

spk_0 I can be salty without blaming anybody but myself.

spk_0 Okay, well, yeah, thanks for, uh, thanks for having me on and, uh, look forward to your panel.

spk_0 You know, I'm a journalist. I like started out extremely skeptical, uh, as well. And, uh,

spk_0 really like every, every point that was made against hex. I like couldn't really, I would,

spk_0 I went back and forth for quite a while analyzing things. So, um, I, you know, I'm gonna be interested

spk_0 in following your journey as you do the same. Yeah, yeah, keep on, I mean, I watched pretty much

spk_0 every video I could find all my about hex and the concept's very simple. I just think we need to,

spk_0 we need to have more of a discussion about it. So, I'm getting the people together. Uh,

spk_0 you're welcome back on. I'll send you an invite link and, uh, we'll probably be talking about

spk_0 pulse chain soon too. Cool. Yeah. Let me know when so that I can, uh, plan for it and stuff.

spk_0 So everybody subscribe to Discord Syndicate on YouTube. Just, uh, type in Discord Syndicate. That's

spk_0 what you'll find, um, Nicole here. And, yeah, we're on Wednesday nights and, uh, Wednesday nights

spk_0 and Saturday mornings. Cool. And her Twitter handle is at NRD GRL 007. Nerd girl, no vowels 007.

spk_0 That's right. Mm-hmm. All right. Nice talking to you. Nice to meet you. Nice to talk with you.

spk_0 Have a great day. Bye. Bye.

What is HEX crypto? I talked to @NrdGrl007 about HEX, its' tokenomics, fundamental analysis, Upcoming Pulsechain ("Ethereum Killer") and cryptocurrency in general.

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